Optimise your total working capital management across the group by:

• focusing on shortening the whole Cash Conversion Cycle (CCC) and extracting the maximum liquidity without harming the company's business efficiency and customer relations. This requires an optimum balance of: 
  • 1) extending payment cycle and long-term supplier relationships,
  • 2) minimising the number of Days Sales Outstanding and achieving maximum efficiency in accounts receivable processing whilst having happy and returning customers
  • 3) a level of inventory that allows the company to meet their customers' requirements without unnecessary stock. 
• introducing systems to be able to see the cost-drivers in accounts receivables and payables focusing on: billing and settlement processes, payment conditions in purchase and sales, revenue management and dunning processes, and the control of outgoing payments
• developing, like Vovlo, games to show all levels of staff how the CCC is affected by all departments and processes
• offering working capital performance incentives beyond the treasury and finance departments to all departments and individuals within the company who could make an important difference to the supply chain were incorporated, e.g. give sales managers DSO targets as  as well as the normal sales targets
• adopting and driving working capital best practices in your supply chain world-wide 
• keeping renewing the team in charge of the working capital management programme to ensure high level of enthusiasm and innovation continues and that the group keeps their focus on continuous improvement in the total working capital improvement programme.